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Apr 24, 2013
04/13
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barclays not in the green. well, shares might be but the company missed on earnings reporting a drop in first quarter profit that was shy of estimates hit by cost hikes. the british bank took charges of more than 500 million pounds during the period related to plans cutting nearly 4,000 jobs and scaled back the risk portfolio. the investment banking group did show improvement. shares as i said are actually responding to the upside by 1.2%. why? let's ask simon. welcome. what do you think accounts for the share reaction here? >> barclays has the great benefit of course and it's in the u.k. where there's a lot of dedicated money that wants to come into equities. the two biggest domestic competitors feel the icy hand of the state on their shoulder so anything that barclays does on restructuring front looks better than their two peers and barclays is outperforming the two of them. >> they look better by comparison opposed to looking that great on a their own? >> interesting contrast to credit suisse where we may ta
barclays not in the green. well, shares might be but the company missed on earnings reporting a drop in first quarter profit that was shy of estimates hit by cost hikes. the british bank took charges of more than 500 million pounds during the period related to plans cutting nearly 4,000 jobs and scaled back the risk portfolio. the investment banking group did show improvement. shares as i said are actually responding to the upside by 1.2%. why? let's ask simon. welcome. what do you think...
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interest rates but they're also manipulating these interest rate swaps the banks implicated include barclays u.b.s. bank of america j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys on the desk there controlling interest rate swap prices and they are known as treasure island because they were coining so much money according to the reports the commission is also looking at whether or not employees that i may have intentionally delayed publication of swap prices which in theory could give someone bankers cough cough a chance to trade ahead of the information so again max we have another case of front running we see this in high frequency trading we see this in the treasury market time after time their front running all of these big market moving numbers are going to bust and i can. you know that's the thing i don't know what they say is treasure island is out
interest rates but they're also manipulating these interest rate swaps the banks implicated include barclays u.b.s. bank of america j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys on the desk there controlling interest rate swap prices and they are known as...
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barclays and these other banks are happening in real time and they're reported every day in the paper you don't need to go beyond that you don't need to see who's anywhere connected to this criminality other than the actual criminals themselves and i don't know i don't care about the build a bridge group because. we don't need to have a conspiracy theory about people that might or might not be committing crimes when we have actual criminal behavior being committed in real time openly in tauntingly it's just i think the people who are upset to build a bridge i think it's an excuse for them not taking action instead of taking action against the guy runs i kept there saying oh we have to go after the builder burke because they're too timid to go after the actual criminal they're too lazy to go after the actual criminal and you know highlight some of the utter contempt they have for the population where libel or was rigged for example on behalf of for one broker who asked for it to be rigged by the submitter the submitter who was going to submit the libel rate for that day and he did it i
barclays and these other banks are happening in real time and they're reported every day in the paper you don't need to go beyond that you don't need to see who's anywhere connected to this criminality other than the actual criminals themselves and i don't know i don't care about the build a bridge group because. we don't need to have a conspiracy theory about people that might or might not be committing crimes when we have actual criminal behavior being committed in real time openly in...
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interest rates but they're also manipulating these interest rate swaps the banks implicated include barclays u.b.s. bank of america j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys on the i caught desk there controlling interest rate swap prices and they are known as treasure island because they were coining so much money according to the reports the commission is also looking at whether or not employees that i may have intentionally delayed publication of swap prices which in theory could give someone bankers cough cough a chance to trade ahead of the information so again max we have another case of front running we see this in high frequency trading we see this in the treasury market time after time there front running all of these big market moving numbers yeah i'm going to boston i can. you know that's the thing i don't know what they say is treasure is
interest rates but they're also manipulating these interest rate swaps the banks implicated include barclays u.b.s. bank of america j.p. morgan chase and the royal bank of scotland but we've also talked about this sort of nexus of london as the center of all these frauds and of course this is i cup which is a london based firm but this was the desk in new jersey which was involved in this crime there are twenty guys on the i caught desk there controlling interest rate swap prices and they are...
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Apr 3, 2013
04/13
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the view is out for barclays. it's a big report. 224 pages. it's effectively finding that to rebuild trust barclays must make changes to mandatory code of conduct. are you learning anything from this yet? >> not really. >> do you expect to? >> i don't expect to either. i think we'll just have to wait and see how it goes on for a while. >> what would be a real game changer from an investors point of view when it comes to barclays or bank debt generally? >> i think we're going to have to wait and see how this current cycle in the market pans out. right now it's quite clear the markets are balancing a difficult situation. technicals are fragile. until we see if bank tech continues to tighten, i don't think we can take this one any further. >> okay. we'll leave it there. we'll bring more news from that report if we get it as we get it. and shares lower this morning after verizon denied it's considering a joint takeover with at&t of the u.k. group. the saga continues. the statement from verizon followed a report in the financial times suggesting th
the view is out for barclays. it's a big report. 224 pages. it's effectively finding that to rebuild trust barclays must make changes to mandatory code of conduct. are you learning anything from this yet? >> not really. >> do you expect to? >> i don't expect to either. i think we'll just have to wait and see how it goes on for a while. >> what would be a real game changer from an investors point of view when it comes to barclays or bank debt generally? >> i think...
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Apr 2, 2013
04/13
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charles barclay and sanjay gupta, thanks very much. >> thanks, piers. >> when we come back, the shocking michelle and what she meant with the very controversial comments about homosexuality and same-sex marriage. we want to hear her defense. >>> the indy folksinger is in a habit of shocking her fans and canceled comments after she made remarks about homosexuality. she told her side of the story for the first time in her first national interview. welcome to you. >> thanks. >> explain what happened. just play a bit of bit of audio. this was an exchange with the audience. the that got the tension was this. >> i was in a prayer meeting yesterday. we have to appreciate how scared folks on that side of the equation are. from there, it's mine too. we are at nearly the end of time. from our vantage point, we are going to be and i think once prop 8 gets instated and once preachers are held at gun point and forced to marry the homosexuals, i am sure that will be the signal for them to come back. you wanted reality. >> i listened to about 20 minutes of what went on on the internet. what was clear i
charles barclay and sanjay gupta, thanks very much. >> thanks, piers. >> when we come back, the shocking michelle and what she meant with the very controversial comments about homosexuality and same-sex marriage. we want to hear her defense. >>> the indy folksinger is in a habit of shocking her fans and canceled comments after she made remarks about homosexuality. she told her side of the story for the first time in her first national interview. welcome to you. >>...
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Apr 2, 2013
04/13
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charles barclay and sanjay gupta, thanks very much. >> thanks, piers. >> when we come back, the shocking michelle and what she meant with the very controversial comments about homosexuality and same-sex marriage. we want to hear her defense. michael, tell us why you used priceline express deals to book this fabulous hotel. well, you can see if the hotel is pet friendly before you book it. and i got a great deal without bidding. and where's your furry friend? oh, i don't have a cat. priceline savings without bidding. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. to help protect your eye health as you age... would you take it? well, there is. [ male announcer ] it's called ocuvite. a vitamin totally dedicated to your eyes, from the eye care experts at bausch + lomb. as you age, eyes can lose vital nutrients. ocuvite helps replenish
charles barclay and sanjay gupta, thanks very much. >> thanks, piers. >> when we come back, the shocking michelle and what she meant with the very controversial comments about homosexuality and same-sex marriage. we want to hear her defense. michael, tell us why you used priceline express deals to book this fabulous hotel. well, you can see if the hotel is pet friendly before you book it. and i got a great deal without bidding. and where's your furry friend? oh, i don't have a cat....
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Apr 2, 2013
04/13
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charles barclay and sanjay gupta, thanks very much. >> thanks, piers. >> when we come back, the shocking michelle and what she meant with the very controversial comments about homosexuality and same-sex marriage. we want to hear her defense. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. the next big thing? we're going to wake the world up. ♪ and watch, with eyes wide, as it gets to work. ♪ cisco. tomorrow starts here. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn i
charles barclay and sanjay gupta, thanks very much. >> thanks, piers. >> when we come back, the shocking michelle and what she meant with the very controversial comments about homosexuality and same-sex marriage. we want to hear her defense. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists...
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Apr 30, 2013
04/13
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that's more than barclay's, credit suisse, jpmorgan, goldman sachs. investors are reckoning that will help with their ability to pay dividends. is that what is pleasing? >> no. i think what's pleasing is that a lot of investors have been worried that deutsche bank has on paper probably the worst capital ratios of any major european bank. there's been a real overhang on the stock with people fearing they need to do a massive rate extension maybe up to 10 million euros. the hope here is that this will relieve a lot of that pressure. people will stop worrying about a massive capital hike. i think the question is whether this is enough. there's a lot of bankers we were talking to last night saying deutsche bank was going to need to raise maybe floor oh four times as much and there's a big capital investment they're facing in the u.s. >> how much depends on the future of bank regulation and -- >> an enormous amount, in particular in the u.s. where deutsche bank's u.s. operations, the fed is pushing them to recapitalize their u.s. unit which by deutsche ban
that's more than barclay's, credit suisse, jpmorgan, goldman sachs. investors are reckoning that will help with their ability to pay dividends. is that what is pleasing? >> no. i think what's pleasing is that a lot of investors have been worried that deutsche bank has on paper probably the worst capital ratios of any major european bank. there's been a real overhang on the stock with people fearing they need to do a massive rate extension maybe up to 10 million euros. the hope here is...
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Apr 25, 2013
04/13
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joining us is chief investment officer for wealth and management of barclay's in the america. you're absolutely right. a lot of companies missed, including 3m and dow chemical. revenue was lighter than expected. they were able to beat in terms of the bottom line. what's going on? >> we should not be terribly surprised. we figured the first half of the year would be slow. and you think about it, on the 15th day of this year, we had a tax increase, right? so it hit everybody. what was remarkable about this, the first look at retail sales number were very good. and they were revised lower. and they should have been. it's hard to believe the numbers were as good as they were at first plush. this is playing out the way it should. this should be a slow first half. and it should pick up in the second half. >> some of it is also because of the strong dollar. 3m was 1.8% of a negative impact. fluctuations just for the quarter. that is probably not as big of a deal as what you're talking, though. >> americans won't spend less. it will go back to old habits. >> of not saving anything. >>
joining us is chief investment officer for wealth and management of barclay's in the america. you're absolutely right. a lot of companies missed, including 3m and dow chemical. revenue was lighter than expected. they were able to beat in terms of the bottom line. what's going on? >> we should not be terribly surprised. we figured the first half of the year would be slow. and you think about it, on the 15th day of this year, we had a tax increase, right? so it hit everybody. what was...